2 Wesley Power Tools manufactures wide variety of tools and accessories. One of its more popular stems is a cordless power handiaw Each handsaw sets for $50 Wesley expects the following unit sales 2,200 February March April 2,100 2.100 Wesley's ending tinished goods inventory policy is 40 percent of the next month's sales Suppose each handsaw takes approximately 0.45 hours to manufacture, and Wesley pays an average labor wage of $15.50 per hour Each handsaw requires a plastic housing that Wesley purchases from a supplier at a cost of $400 each. The company has an ending direct materials inventory policy of 10 percent of the following month's production requirements Materials other than the housing unit total $4.00 pethandisew. Manufacturing overhead for this product includes $69.000 annual food overhead (based on production of 27000 units and $0.80 per unut varioble manufacturing overhead Wesley's selling expenses are 4 percent of sales dollars, and administrative expenses are fred at $15.000 per month Required: 1. Compute the budgeted cut of goods sold for the first quarter 2. Compute the budgeted selling and administrative expenses for the first quarter 3. Complete the budgeted income statement for the handsaw product for the first quarter Complete this question by entering your answers in the tabs below. wees om up at a cost of $400 each. The company has an ending direct materials inventory policy of 10 percent of the following month's production requirements. Materials other than the housing unit total $400 per handsaw Manufacturing overhead for this product includes $69.000 annual fored overhead (based on production of 27000 units) and $0.80 per unit variable manufacturing overhead Wesley's selling expenses are 4 percent of sales dollars, and administrative expenses are fixed at $15,000 per month Required: 1. Compute the budgeted cost of goods sold for the first quarter. 2. Compute the budgeted selling and administrative expenses for the first quarter 3. Complete the budgeted income statement for the handisaw product for the first quarter Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Compute the budgeted cost of goods sold for the first quarter. (Round direct material, direct labor and overall costs per to 2 decimal places. Roundfinanswers to the nearest dollar amount.) January February March 15 Quarter Total Budgeted Cost of Goods Sold Required 2 > Manufacturing overhead for this product includes $69,000 annual fixed overhead (based on production of 27.000 units) and $0.80 per unit variable manufacturing overhead. Wesley's selling expenses are 4 percent of sales dollars, and administrative expenses are fixed at $15,000 per month 16 Required: 1. Compute the budgeted cost of goods sold for the first quarter 2. Compute the budgeted selling and administrative expenses for the first quarter. 3. Complete the budgeted income statement for the handisew product for the first quarter Complete this question by entering your answers in the tabs below. Required i Required 2 Required 3 Required 2 Compute the budgeted selling and administrative expenses for the first quarter January February March 1st Quarter Total Budgeted Selling and Administrative Expenses 2 Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Complete the budgeted income statement for the handsaw product for the first quarter (Round direct material direct labor and overhead costs per unit to 2 decimal places. Round finanswers to the nearest dollar amount.) WESLEY POWER TOOLS Budgeted Income Statement For the Quarter Ending March January February March 1st Quarter Total Budgeted Gross Profit Budgeted Net Operating Income